The co-founder and CEO of, Kris Marszalek, has announced a new wave of staff layoffs that will reduce its global workforce by another 20%, citing poor market conditions and “recent industry events.”

“Today we made the difficult decision to reduce our global workforce by approximately 20%,”  Marszalek said in a company update on Jan. 13.

“All impacted personnel have already been notified. These reductions were in no way related to performance, and we extend our deepest gratitude for all their contributions to”

Marszalek said several factors influenced their decision, including “ongoing economic headwinds and unforeseeable industry events.”

“We grew ambitiously at the start of 2022, building on our incredible momentum and aligning with the trajectory of the broader industry. That trajectory changed rapidly with a confluence of negative economic developments.”

This is a developing story, and further information will be added as it becomes available.